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Travel & Tourism industry news by Greek Travel Pages (gtp)

Plotin On the Verge of Bankruptcy

Heavy debts have apparently forced one of Greece’s oldest travel companies to the brink of bankruptcy. The Plotin group, owned by the Antoniou family and the German travel group Neckerman, has subsidiary operations in Corfu, Crete, Rodos and Chalkidiki.

Press reports say the group owes more than six million euros to Greek hotels, and that the group is in the process of attempting to sell off its fleet of tour coaches and its Roda Beach property in an effort to hold off creditors. The same reports say the group had issued post-dated cheques for a substantial amount of its debt.

And although reports say that Neckerman has cut its cooperation with Plotin, hoteliers insist that the German partner is responsible for paying hotel debts as these were incurred during the partnership with Plotin.

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